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Lucius James Wallace

Lucius Wallace’s Legal Guides

2 total

  • What is RESPA and Why Should You Care? Part 2

    One RESPA issue raised by servicers is the contention that the QWR was required to have been, but was not, sent to a designated address. RESPA itself contains no requirement that a QWR be sent to a specific address.[1] Regulation X, 24 CFR 3500.21(e)(1), designed to implement R...

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  • What is RESPA and Why Should You Care? Part 1

    RESPA was enacted by Congress long before the subprime mortgage bubble popped in 2007 and was primarily designed to create standards for full and fair disclosure of the financial terms for residential loan closings.Leaving aside RESPA's effect on transparency at the closing table...

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